(EMAILWIRE.COM, September 11, 2019 ) The automatic identification and data capture market was valued at USD 35.69 Billion in 2017 and is expected to reach USD 72.00 Billion by 2023, at a CAGR of 12.30% during the forecast period. The base year considered for the study is 2017, and the forecast period is between 2018 and 2023. Factors such as rising government regulations and growing opportunities from supply chain management and healthcare industries are expected to support the growth of players in the automatic identification & data capture market.

The objective of the report is to provide a detailed analysis of the automatic identification and data capture market based on product, offering, vertical, and geography. The report provides detailed information regarding the major factors such as drivers, restraints, opportunities, and challenges influencing the growth of the market. It also provides a detailed overview of the value chain pertaining the market for automatic identification and data capture system.

Hardware is expected to hold the largest share of the automatic identification and data capture market between 2018 and 2023.

Among all offerings, hardware held the largest share of the automatic identification and data capture market in 2017. The high requirement for hardware components in several automatic identification and data capture products such as barcodes, magnetic stripe cards, smart cards, optical character recognition (OCR) systems, RFID tags, printers and readers, and biometric systems has contributed to the leading position of the hardware segment in terms of market size.

Manufacturing is expected to hold the largest share of the automatic identification and data capture market between 2018 and 2023.

Among all verticals, manufacturing held the largest share of the automatic identification and data capture market in 2017. The leading position of the manufacturing vertical, in terms of market size, can be attributed to benefits offered by automatic identification and data capture solutions such as enhanced efficiency and reduced operational costs, which enables the sector to effectively handle the increasing number of goods flowing through the supply chain process.

Market for biometric systems is expected to register the highest CAGR during the forecast period.

Among all product categories of automatic identification and data capture solutions, the market for biometric systems is expected to grow at the highest CAGR between 2018 and 2023. The ability to automatically identify a person based on physiological characteristics is the major factor driving the growth of the market for biometric systems.

APAC is expected to hold the largest share of the automatic identification and data capture market between 2018 and 2023.

Among all regions, APAC held the largest share of the automatic identification and data capture market in 2017. The leading position of APAC can be attributed to the rapid expansion of retail and logistics companies supported by the presence of several automatic identification and data capture players in the region.

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